Risk Attitude Economics

Author : Laura Concina
Publisher : FonCSI
Page : 55 pages
File Size : 48,5 Mb
Release : 2014-05-01
Category : Technology & Engineering
ISBN : 8210379456XXX

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Risk attitude & Economics by Laura Concina Pdf

This document is an introduction, for non-economists, to standard and behavioral economic theories of risk and uncertainty. It describes some broadly-accepted results in economics that are determinant in decision-making under risk or uncertainty and in situations where we have to deal with losses and gains. To illustrate this point, the document presents a selection of theoretical results, ponctuated with examples taken from everyday life, and research studies in economics and psychology on the perception of risk.

Author : Laura Concina
Publisher : Unknown
Page : 43 pages
File Size : 41,8 Mb
Release : 2014
Category : Electronic
ISBN : OCLC:894392510

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Risk Attitude & Economics by Laura Concina Pdf

Author : G.W. Harrison,James C. Cox
Publisher : Emerald Group Publishing
Page : 449 pages
File Size : 52,7 Mb
Release : 2008-02-29
Category : Business & Economics
ISBN : 9780762313846

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Risk Aversion in Experiments by G.W. Harrison,James C. Cox Pdf

Presents research utilizing laboratory experimental methods in economics.

Author : Louis Eeckhoudt,Christian Gollier,Harris Schlesinger
Publisher : Princeton University Press
Page : 245 pages
File Size : 41,6 Mb
Release : 2011-10-30
Category : Business & Economics
ISBN : 9781400829217

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Economic and Financial Decisions under Risk by Louis Eeckhoudt,Christian Gollier,Harris Schlesinger Pdf

An understanding of risk and how to deal with it is an essential part of modern economics. Whether liability litigation for pharmaceutical firms or an individual's having insufficient wealth to retire, risk is something that can be recognized, quantified, analyzed, treated--and incorporated into our decision-making processes. This book represents a concise summary of basic multiperiod decision-making under risk. Its detailed coverage of a broad range of topics is ideally suited for use in advanced undergraduate and introductory graduate courses either as a self-contained text, or the introductory chapters combined with a selection of later chapters can represent core reading in courses on macroeconomics, insurance, portfolio choice, or asset pricing. The authors start with the fundamentals of risk measurement and risk aversion. They then apply these concepts to insurance decisions and portfolio choice in a one-period model. After examining these decisions in their one-period setting, they devote most of the book to a multiperiod context, which adds the long-term perspective most risk management analyses require. Each chapter concludes with a discussion of the relevant literature and a set of problems. The book presents a thoroughly accessible introduction to risk, bridging the gap between the traditionally separate economics and finance literatures.

Author : Donald J. Meyer,Jack Meyer
Publisher : Now Publishers Inc
Page : 112 pages
File Size : 49,8 Mb
Release : 2006
Category : Business & Economics
ISBN : 9781933019451

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Measuring Risk Aversion by Donald J. Meyer,Jack Meyer Pdf

Provides a detailed discussion of the adjustment of risk references and how to go about making such adjustments to a common scale. By adjusting all information to this common scale, results across studies can be easily summarized and compared, and the body of information concerning risk aversion can be examined as a whole

Author : Elke U. Weber,Joachim Klement
Publisher : CFA Institute Research Foundation
Page : 128 pages
File Size : 41,8 Mb
Release : 2018
Category : Business & Economics
ISBN : 9781944960407

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Risk Tolerance and Circumstances by Elke U. Weber,Joachim Klement Pdf

An investor’s risk attitude is a stable characteristic, like a personality trait, but risk-taking behavior can change based on the investor’s age, recent market events, and life experiences. These factors change investors’ perceptions of the risks. Differences in risk tolerance between men and women or in different circumstances trace back to emotional as much as rational considerations. Financial advisers should consider all of these factors when advising clients and can use four simple steps to incorporate best practices: be aware, educate, nudge, and hand hold.

Author : Glenn W. Harrison,Don Ross
Publisher : Emerald Group Publishing
Page : 265 pages
File Size : 50,7 Mb
Release : 2023-10-23
Category : Business & Economics
ISBN : 9781837972685

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Models of Risk Preferences by Glenn W. Harrison,Don Ross Pdf

Models of Risk Preferences collects studies that critically review alternatives to Expected Utility Theory from the perspective of experimental economics.

Author : Robert Nau,Erik Grønn,Mark J. Machina,Olvar Bergland
Publisher : Springer Science & Business Media
Page : 269 pages
File Size : 41,6 Mb
Release : 2013-04-17
Category : Business & Economics
ISBN : 9789401713603

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Economic and Environmental Risk and Uncertainty by Robert Nau,Erik Grønn,Mark J. Machina,Olvar Bergland Pdf

The 1980s and 1990s have been a period of exciting new developments in the modelling of decision-making under risk and uncertainty. Extensions of the theory of expected utility and alternative theories of `non-expected utility' have been devised to explain many puzzles and paradoxes of individual and collective choice behaviour. This volume presents some of the best recent work on the modelling of risk and uncertainty, with applications to problems in environmental policy, public health, economics and finance. Eighteen papers by distinguished economists, management scientists, and statisticians shed new light on phenomena such as the Allais and St. Petersburg paradoxes, the equity premium puzzle, the demand for insurance, the valuation of public health and safety, and environmental goods. Audience: This work will be of interest to economists, management scientists, risk and policy analysts, and others who study risky decision-making in economic and environmental contexts.

Author : Rafaela Hillerbrand,Per Sandin,Martin Peterson
Publisher : Springer Science & Business Media
Page : 1209 pages
File Size : 49,9 Mb
Release : 2012-01-12
Category : Science
ISBN : 9789400714335

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Handbook of Risk Theory by Rafaela Hillerbrand,Per Sandin,Martin Peterson Pdf

Risk has become one of the main topics in fields as diverse as engineering, medicine and economics, and it is also studied by social scientists, psychologists and legal scholars. But the topic of risk also leads to more fundamental questions such as: What is risk? What can decision theory contribute to the analysis of risk? What does the human perception of risk mean for society? How should we judge whether a risk is morally acceptable or not? Over the last couple of decades questions like these have attracted interest from philosophers and other scholars into risk theory. This handbook provides for an overview into key topics in a major new field of research. It addresses a wide range of topics, ranging from decision theory, risk perception to ethics and social implications of risk, and it also addresses specific case studies. It aims to promote communication and information among all those who are interested in theoetical issues concerning risk and uncertainty. This handbook brings together internationally leading philosophers and scholars from other disciplines who work on risk theory. The contributions are accessibly written and highly relevant to issues that are studied by risk scholars. We hope that the Handbook of Risk Theory will be a helpful starting point for all risk scholars who are interested in broadening and deepening their current perspectives.

Author : Christian Gollier
Publisher : MIT Press
Page : 492 pages
File Size : 53,8 Mb
Release : 2001
Category : Business & Economics
ISBN : 0262572249

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The Economics of Risk and Time by Christian Gollier Pdf

Updates and advances the theory of expected utility as applied to risk analysis and financial decision making.

Author : Steven Shavell
Publisher : Harvard University Press
Page : 324 pages
File Size : 40,7 Mb
Release : 2009-06-30
Category : Law
ISBN : 0674043510

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Economic Analysis of Accident Law by Steven Shavell Pdf

Accident law, if properly designed, is capable of reducing the incidence of mishaps by making people act more cautiously. Scholarly writing on this branch of law traditionally has been concerned with examining the law for consistency with felt notions of right and duty. Since the 1960s, however, a group of legal scholars and economists have focused on identifying the effects of accident law on people's behavior. Steven Shavell's book is the definitive synthesis of research to date in this new field.

Author : Mark Machina,W. Kip Viscusi
Publisher : Newnes
Page : 896 pages
File Size : 48,9 Mb
Release : 2013-11-14
Category : Business & Economics
ISBN : 9780444536860

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Handbook of the Economics of Risk and Uncertainty by Mark Machina,W. Kip Viscusi Pdf

The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance Divides coverage between theoretical, empirical, and experimental findings Makes the economics of risk and uncertainty accessible to scholars in fields outside economics

Author : Uzi Segal,Avia Spivak,University of Western Ontario. Department of Economics
Publisher : London, Ont. : Department of Economics, University of Western Ontario
Page : 7 pages
File Size : 55,5 Mb
Release : 1995
Category : Electronic
ISBN : 0771418361

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First-order Risk Aversion and Non-differentiability by Uzi Segal,Avia Spivak,University of Western Ontario. Department of Economics Pdf

Author : Baranoff,Patrick L. Brockett,Yehuda Kahane
Publisher : Unknown
Page : 128 pages
File Size : 51,8 Mb
Release : 2009
Category : Electronic book
ISBN : 1936126184

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Risk Management for Enterprises and Individuals by Baranoff,Patrick L. Brockett,Yehuda Kahane Pdf

Author : Peter P. Wakker
Publisher : Cambridge University Press
Page : 519 pages
File Size : 51,8 Mb
Release : 2010-07-22
Category : Business & Economics
ISBN : 9781139489102

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Prospect Theory by Peter P. Wakker Pdf

Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.